And why that's good news for the DNS industry
Insurance company Chartis is the latest company to withdrawal from a namesake new Internet extension (dot-chartis), claiming back $130,000 of its $185,000 application fee.
The news comes just days after the new gTLD program run by ICANN was dealt a blow with the withdrawal of five applications from General Motors (the car industry has embraced the program) and with toy-maker Hasbro dropping its dot-transformers application, despite having a savvy Net audience thanks to recent blockbuster movies featuring the camouflaging robots.
In the case of Chartis, however, the withdrawal - and recent changes announced to its application - are good news for the program since they highlight the far greater importance that new gTLDs are going to have in the global economy starting next year.